I too, am a victim of Orchard Bank, the company that purports to "help people get back on their feet" when financial problems arise. BULL!!! They are nothing but Loan Sharks disguised as a credit card issuer.
My husband and I went through a financial crisis - someone was able to hack into my online bank account and quickly wiped us out of over $8,000.00 several years ago. The bank eventually recovered our funds, but it took quite a long time.in the interim, our credit took a beating.
We signed up for one of those "help you re-establish your credit" cards through Orchard Bank. We made timely payments (which, somehow were never RECIEVED on time, even though payments were made online before the due date) and only charged on the card maybe three times for small amounts.
We later asked that the account be closed and paid the balance. Apparently, there was still a lingering fee on the account. We moved twice, and never knew this even existed until we applied for credit a few years later. We knew the account had been paid, we assumed it was a credit report error and wrote a letter of dispute.
Yesterday, we recieved a very nasty call from some law firm saying we were about to be sued for over $1300. Mind you, our total charges made on this card were less than $200! We were told that we had been racking up interest to the tune of 11% PER DAY!!! IS THIS LEGAL??? Sounds like Loan Sharks in every sense of the word to me. I would really love it if an attorney or someone versed in collections law could respond to the multiple complaints on this site... We don't want to fork over that kind of money if it's illegal for them to try and collect it.
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